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From Times Staff and Wire Reports

Virgin Music About to be Sold: British entrepreneur Richard Branson is about to sell most or all of the world’s sixth-largest record company, a spokesman said. The sale, which would be the 41-year-old entrepreneur’s largest divestiture, reportedly could fetch $1 billion. Branson previously announced that such a sale was being negotiated. A possible purchaser reportedly is Thorn EMI, a British conglomerate which owns the Capitol, Chrysalis and EMI labels. The company declined comment.

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